Core Scientific Q4 forecasts that total revenue will decrease

Core Scientific posted quarterly earnings results for Q4 2025. The company reported total revenue of $79.8 million, down from $94.9 million a year ago. However, colocation revenue rose 268 percent.

Core Scientific (CORZ) is a US-based BTC mining and digital infrastructure company. The company missed revenue forecasts of $122.076 million and posted a per-share loss more than five times higher than expected.

Why is it important?

The details are:

Core Scientific reported revenue of $31.3 million in Q4 2025, up from $8.5 million in Q4 2024. Digital Asset's own mining revenue fell to $42.2 million. According to the company, this was triggered by a 57% drop in BTC mining. Gross profit increased from $4.8 million to $20.8 million in 2024. But Core Scientific recorded negative non-GAAP adjusted EBITDA of $42.7 million. The company reported a loss of $0.42 per share, compared to expectations of a loss of $0.08. Liquidity at the end of the year stood at $533.4 million, including $311.4 million in cash and cash equivalents and $222 million in BTC holdings.

The big picture:

Core has been shifting its focus from self-mining to providing hosting and colocation services. CEO Adam Sullivan highlighted progress in expanding the company's colocation platform to a 1.5 gigawatt leasable pipeline. Sullivan said the company is focused on accelerating timelines and positioning for sustainable growth.